Pay Up Pompey,Pompey Pay Up!

[Power to people]

Southend are in court tomorrow (weds) and are not allowed a postponment a directibve from their march adjournment - I wonder if they will go into admin tomorow

[pauld]

Southend are in court tomorrow (weds) and are not allowed a postponment a directibve from their march adjournment - I wonder if they will go into admin tomorow

I was mainly wondering why you posted this on a thread about Portsmouth

[wiggy]

There's a good summary piece on where things sit now on twohundredpercent. It's not wildly complimentary about Andy the Admin, I'm afraid

http://www.twohundredpercent.net/?p=5015

Hmm. It seems like they are almost happy to inflate the level of debt so that HMRC have a less than 25% say in the CVA approval.

[pauld]

Hmm. It seems like they are almost happy to inflate the level of debt so that HMRC have a less than 25% say in the CVA approval.

That's exactly what Andronikou's doing. Guardian asking questions about how that all stacks up:
http://www.guardian.co.uk/football/blog/2010/apr/12/questions-portsmouth-remain-unanswered?

[Power to people]

I was mainly wondering why you posted this on a thread about Portsmouth

Dunno just thought I would...will the thread police arrest me for it ? 

[Ardiles]

Reading between the lines of the Guardian article, it sounds as if HMRC are going to roll over a lot more easily than I would have imagined.  I would have expected them to play a much harder game than this.

[pauld]

Dunno just thought I would...will the thread police arrest me for it ? 

I'd certainly hope so. At least a shoeing in the back of the van and a caution anyway

[pauld]

Reading between the lines of the Guardian article, it sounds as if HMRC are going to roll over a lot more easily than I would have imagined.  I would have expected them to play a much harder game than this.

Well, there's two possible explanations:

1) They've got something up their sleeve on this that they plan to use to block the CVA
2) They've realised (as jonny said) that they can't block either the admin order or the CVA and so rather than waste public money on tilting at windmills they're focusing on getting the best deal they can out of the CVA.

As scenario 2 involves a government department deploying common sense and logic in order to ensure best value for the taxpayer rather than wasting scads of money on a pointless diversion, I think we can rule that out.

[jonny72]

When did I say that? I'm either being misquoted or was drunk and misquoted myself.

HMRC will want all the money back they are owed. If they don't get it all then they will do everything they can to fuck them over - block the CVA, mount more legal challenges, go for winding up etc. This is how HMRC operates, you might view it as a waste of public money but there is a lot more to it than that.

I really can't see HMRC rolling over and accepting anything, they're planning their next move and there will most likely be more legal action once things progress.

[pauld]

When did I say that? I'm either being misquoted or was drunk and misquoted myself.

HMRC will want all the money back they are owed. If they don't get it all then they will do everything they can to fuck them over - block the CVA, mount more legal challenges, go for winding up etc. This is how HMRC operates, you might view it as a waste of public money but there is a lot more to it than that.

I really can't see HMRC rolling over and accepting anything, they're planning their next move and there will most likely be more legal action once things progress.

Yes, I was attempting to be humorous by having a cheap dig at the inefficiency and incompetence of govt

[Talk Talk]

Yes, I was attempting to be humorous by having a cheap dig at the inefficiency and incompetence of govt

Surely not, Paul? I thought you loved the state.

[ahounsell]

Reading between the lines of the Guardian article, it sounds as if HMRC are going to roll over a lot more easily than I would have imagined.  I would have expected them to play a much harder game than this.

They may be keeping their powder dry for when they have a better chance of a direct hit.

I still think we should count ourselves very fortunate that HMRC chose not to play hardball over the conduct of our CVA as they could quite possibly have closed the club down on numerous occasions. Im not at all sure that Portsmouth will get the same good fortune.

For example, our CVA proposal stated that the club would meet all tax debts as and when they fall due and that a failure to do so would constitute the immediate failure of the CVA. We know for a fact that the club was subject to at least 2 winding up orders during that period for unpaid tax bills, and Fitton and Co had to stump up about £3m to pay tax debts as part of their takeover.

Had they chosen to do so, I suspect HMRC could have forced the CVA to fail at any time once the club had failed in that obligation.

[jonny72]

Looks like Middlesborough will not be playing Gary O'Neil again as one more appearance will trigger a balloon payment of £1m to Portsmouth. You've got to laugh at the irony of that.

[Samdy Gray]

Anyone watching MOTD2? They just showed Andronikou signing autographs for little kids on the way into the ground

[Nemo]

I hope they were holding copies of our CVA release forms.